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The #SupremeCourt has allowed states to impose taxes on minerals and land holding #minerals retroactively from April 1, 2005, impacting mining companies with significant financial liabilities Read more by @utkarsh_aanand https://t.co/1Jm8KvmxPN https://t.co/qMrRMgIqKD
BREAKING: SC Allows Mineral-Rich States to Collect Past Royalty Dues From Mining Companies Read: https://t.co/4pT4HIwBhK . . . #supremecourtruling | #MiningRoyalties | #mineralrichstates | #StateMiningRevenue | #SCAllowsRoyalty | #RoyaltyCollection | #RepublicTV | #RepublicWorld
SC Allows State Governments To Collect Mining Dues From April 2005 As Royalty And Tax Full video: https://t.co/aYUy6xIFOL . . . #SupremeCourt | #taxes | #mining | #Royalty | #CentralGovernment | #StateGoverment | #business | #StateGovernment | #miningdues | #BreakingNews |… https://t.co/kYST0uH4au
The Supreme Court of India has ruled that states have the legislative competence to levy taxes and royalties on minerals, in addition to central levies. This decision allows states to collect past dues on mineral rights from April 1, 2005, onwards. The ruling, delivered on July 25, has been applied retrospectively, impacting mining companies with significant financial liabilities. As a result, mining stocks have fallen, with NMDC slipping over 4%, Tata Steel down 3%, and Vedanta also affected. The judgment is considered a significant win for mineral-rich states, enabling them to recover past tax dues and royalties from mining operators.
